Faraday Future is on schedule with factory construction

At this year's CES, Faraday Future unveiled their highly anticipated electric vehicle - the FF 91. The FF91 is their first production vehicle, and the company plans for it to compete directly with Tesla.

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However, the company has been struggling with certain financial problems for a while now. It was reported that the company had to stop factory construction to afford their glamorous event at CES.

Read also: Faraday Future stops factory construction to afford CES

The company has announced now that they are on schedule and they are entering "phase 2 of stage 1" on their project, meaning that they entered the competitive bidding process for the construction of their factory.

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Faraday Future will move along with this competitive bidding process after vetted discussion, and we look forward to starting the construction of our Phase 2 plant as soon as possible. Our Phase 2 construction includes an additional facility which will be built onsite to deliver our flagship vehicle, the FF 91, including the ultra-luxury limited Alliance Edition models, for our first group of users globally.

Read also: Faraday Future unveils their first production vehicle

The production of the FF 91 is planned for 2018, and we will see if the company will stick with that schedule. The $180,000 priced electric car can accelerate from 0 to 60 mph in 2.39 seconds and comes with many interesting features like facial recognition technology, NASA-inspired zero gravity seats, and of course - the FF 91 can park itself.

The company also stated that they would invest $1B in the State of Nevada over the next few years which is where the facility is located.